BR Healthcare Services would conduct a comprehensive review of all financial aspects of the facility. It would include a detailed review of the last two Hospital Cost Reports, Hospital annual audits for prior two years, and current Hospital financials YTD. In addition, BRHS would review the Hospital Chargemaster and Business Office Policies and Procedures, A/R detailed aging, copies of follow-up letters, and EOBs.
The company would also evaluate Accounting and Human Resources Policies and Procedures, DRG Case Mix Index YTD, Managed Care contracts, staffing standards, scheduling, current salaries, and productivity reports for all Financial Services areas.
BRHS would assess billing, coding, collections, and Accounts Receivable, inventory control, CDM pricing formulas, accuracy of patient billing, and charge capture. An analysis would then be performed to compare financial operating indicators against national/regional standards, and identify lost income due to coding errors and omissions, lost charges, and improper billing.
Upon completion, a written report will be presented to the Board and Administration outlining potential problem areas, recommending solutions to the problems, and quantifying the financial impact of the solutions. BR Healthcare will also provide management with an overall analysis of current financial operations and performance at the facility. The company will continue to work with the Hospital to oversee the implementation of any/all of the solutions recommended, if requested.